UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 21, 2004
CONCORD CAMERA CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New Jersey 13-3152196
---------------------------- ----------------------
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
0-17038
------------------------
(Commission File Number)
4000 Hollywood Boulevard, 6th Floor North Tower, Hollywood, Florida 33021
------------------------------------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (954) 331-4200
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
Effective as of October 21, 2004, the Board of Directors of Concord Camera Corp.
("Concord" or the "Company") appointed Robert A. Bosi as Interim Senior Vice
President and Chief Financial Officer of Concord, thus replacing Harlan I.
Press, the Company's Vice President and Treasurer, as principal financial
officer. Mr. Bosi has no family relationship with any director or executive
officer, whether existing or prospective, of the Company.
Mr. Bosi, who is 48, is affiliated with Tatum CFO Partners, LLP ("Tatum"), a
nationwide partnership that provides financial and information technology
leadership. Mr. Bosi was Vice President and Chief Financial Officer of Vesper
Corporation from September 2002 to December 2003. From 1991 to 2001, he was Vice
President of Finance and Chief Financial Officer of Curtiss-Wright Corporation,
having joined the company as Treasurer in 1989. Mr. Bosi is a Certified Public
Accountant, a Certified Management Accountant, and earned a M.B.A. degree and a
B.A. degree in Accounting and Business Administration.
The agreement, dated October 21, 2004, between Concord and Mr. Bosi with respect
to Mr. Bosi's interim employment, provides for a base salary of $24,990 per
month. The term of the interim employment agreement expires on June 1, 2005,
unless renewed by mutual agreement of the parties, and may be terminated on
thirty (30) days' notice by Concord at any time or by Mr. Bosi after the first
90 days. During the interim employment period, in addition to reimbursing Mr.
Bosi for his reasonable out-of-pocket expenses, the Company will pay him $1,000
per month for car rental expense, and reimburse him for the expense of his
lodging in South Florida, one economy class flight per month for travel between
South Florida and New Jersey, and up to $600 per month for costs he may incur
for medical insurance (since Mr. Bosi will not be eligible to participate in any
Concord employee benefit plans during his interim employment). If the Company
terminates Mr. Bosi's interim employment effective during the first 90 days
without cause (other than upon converting his employment to a non-interim
basis), Mr. Bosi will be entitled to receive payments equal to his base salary
and medical insurance reimbursements for the remainder of the first 90 day
period, payable in accordance with the Company's normal payroll practices. The
interim employment agreement prohibits Mr. Bosi from competing with the Company
for one (1) year following termination.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CONCORD CAMERA CORP.
Date: October 27, 2004 By: /s/ Alan Schutzman
-------------------------------
Alan Schutzman, Senior Vice
President, General Counsel and
Secretary